Auswirkungen von Mehrfachmandaten deutscher Vorstands- und Aufsichtsratsvorsitzender auf den Unternehmenserfolg / The Impact of Multiple Board Memberships of CEOs and Chairmen of Supervisory Boards on Corporate Performance in Germany

Balsmeier Benjamin (), Buchwald Achim () and Heiko Peters
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Balsmeier Benjamin: Monopolkommission, Heilsbachstraße 16, 53123 Bonn, Germany
Buchwald Achim: Monopolkommission, Heilsbachstraße 16, 53123 Bonn, Germany

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 2010, vol. 230, issue 5, 547-570

Abstract: Members of management boards as well as supervisory boards often attract public criticism when they are simultaneously active in several other boards. We use a panel data set of the biggest German corporations for the period from 1996-2006 to estimate the impact of multiple board memberships of the CEO and the chairman of the supervisory board on corporate performance. The results suggest a positive and inverse U-shaped relation between the number of external supervisory board seats of the CEO and corporate performance. Chairmen of supervisory boards who simultaneously serve on external management boards tend to improve the performance of the controlled firm. Further external supervisory board seats of the chairman of a supervisory board do not seem to have any influence on corporate performance, though.

Keywords: Corporate governance; multiple board memberships; firm performance; Corporate governance; multiple board memberships; firm performance (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:230:y:2010:i:5:p:547-570

DOI: 10.1515/jbnst-2010-0504

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